Global Mono Ethylene Glycol Market is Expected to Grow at 6% CAGR During 2016-2022

April 28, 2017 Pune, India, / Market Research Future published a half cooked research report on global Mono Ethylene Glycol market which is estimated to grow 6% CAGR During 2016-2022.

Market Research Future (MRFR) recognizes the following companies as the key players in the global Mono Ethylene Glycol market: The Dow Chemical Company (US), Reliance Industries Limited. (India), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), BASF SE (Germany), India Glycols Limited. (India), LyondellBasell Industries Holdings B.V. (Europe), Chemtex Speciality Limited (India), ExxonMobil Chemical Company (US), Eastman Chemical Company (US), Huntsman Corporation Chemical manufacturing company (US), and others. 

Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “Global Mono Ethylene Glycol market size is expected to grow at USD ~37.4 Billion by 2022. The market witnessed a significant growth over the forecasted period owing to growing applications such as into fiber, polyethylene terephthalate (pet), film, anti-freeze, and other industrial application and others across various industries. 

Mono Ethylene Glycol, which is also known as 1,2-Ethanediol Glycol, 2-Hydroxyethanol 1,2-Dihydroxyethane,1,2-Ethandiol, MEG, Athylenglykol (German) with the linear formula HOCH2CH2OH, which is presence as colorless, odorless liquid with a syrup-like solidity. It is an important industrial chemical using in various end user industries such as textile industry, plastic industry, packaging industry, and others.

Mono-ethylene Glycol (MEG) used for various applications that involve chemical intermediates for solvent couplers, freezing point depression, resins, to moistening and chemical intermediates. These applications are essential to the manufacture of a large range of products textile fibers, paper and leather ,water-based adhesives , electrolytic capacitors, including resins, engine antifreeze and coolants, deicing fluids, heat transfer fluids, latex paints and asphalt emulsions. 

Global Mono Ethylene Glycol Market Share by Application,
Segment Analysis

The global mono ethylene glycol market has been segmented into application and end use industries. On the basis of application, the market has been divided into fiber, polyethylene terephthalate (pet), film, anti-freeze, and other industrial application. Among these applications, polyethylene terephthalate (PET) have cover the largest market followed by fiber, anti-freeze, and others industrial applications. The other extensive use of mono ethylene glycol as an antifreeze is based on its ability to lower the freezing point when it mixed with water. Additionally, it can also be used as a coolant material in engines, dewatering agent, anti-corrosion agent, anti-ice and deicers, and other chemical intermediate such as in the manufacture of 1,4-dioxane, manufacture of some vaccines and and also in some inks and dyes. 

The rapid growth of the PET market due to packaging industry has boost a high demand in mono ethylene glycol consumption. The large share of mono ethylene glycol is used to produce polyethylene terephthalate has increase rapidly from the past years, now it covers more than 50% of the consumption of mono ethylene glycol. Although market is still expected to grow in the forecast period. Consumption of mono ethylene glycol has grown at a rate of approx. 7% per year on average.

Geographically, Asia-Pacific is estimated to be the largest market in terms of value and volume. The dominance of China in APAC as well as global market is fueling the global demand. Other regions such as North America, Europe and Middle East have potential competitors with each other. Primarily because of packaging industries, and applications such as anti-freeze and deicing through APAC region to Europe and North America. 

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of key vendors.

ACCESS REPORT DETAILS @ https://www.marketresearchfuture.com/reports/mono-ethylene-glycol-market-2709 .

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